Nasdaq Hits Record Close as AI Stocks Rally
The Nasdaq Composite closed at a record high on Monday, driven by strong performance in artificial intelligence stocks. The index rose 2.3%, marking its first record close since June and outperforming the S&P 500's 1.5% gain—the best single-day rise since August 4—and the Dow Jones Industrial Average’s 0.7% increase. On Tuesday, U.S. stock futures remained steady as falling oil prices supported market sentiment. Brent crude fell around 2%, and U.S. crude dropped nearly 3%, with reports suggesting Iran may reopen the Strait of Hormuz in exchange for sanctions relief and Saudi Arabia restoring a key pipeline. Treasury yields also declined slightly, trading near 4.93%. Tech stocks were mixed early Tuesday after Meta's AI developments fueled Monday’s rally. Investors are closely watching diplomatic meetings between U.S. President Donald Trump and Chinese leader Xi Jinping on trade and AI, as well as potential talks with Iranian President Masoud Pezeshkian.
Tickers: $META
Topics: AI stocks Nasdaq oil prices Treasury yields U.S.-China relations